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Indiana ends fiscal year with surplus

INDIANAPOLIS -- The state of Indiana has received a surplus to end the fiscal year.


Governor Mike Pence says the state's on-going surplus totaled $93 million.


The state's cash reserves are also healthy, bringing in $86 million more than expected.


The governor plans to use the surplus to pay off state debts, including bonds for the Miami Correctional Facility.


"It lays a foundation for economic growth and prosperity, upon which I believe we will be able to get this economy moving again and Hoosiers back to work," said Governor Pence.


Earlier this year, lawmakers approved a $30 billion two year budget.


It includes the governor's income tax cut as well as more funding for roads and education.

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